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CHAPTER 7 ALLOCATING COSTS OF SUPPORT DEPARTMENTS AND JOINT PRODUCTS
QUESTIONS FOR WRITING AND DISCUSSION
1. Stage one assigns service costs to producing departments. Costs are assigned using factors that reflect the consumption of the services by each pr

I got 30 out of 40 for 75%. This means I missed 5 questions.
1
1. Max Company has developed the following standards for one of its products.
Directmaterials: 15pounds $16perpound Directlabor: 4hours $24perhour Variablemanufacturingoverhead: 4hours $14perh

CHAPTER 20 CAPITAL INVESTMENT
QUESTIONS FOR WRITING AND DISCUSSION
1. Independent projects are such that the acceptance of one does not preclude the acceptance of another. With mutually exclusive projects, however, acceptance of one precludes the acceptan

CHAPTER 21 INVENTORY MANAGEMENT: ECONOMIC ORDER QUANTITY, JIT, AND THE THEORY OF CONSTRAINTS
QUESTIONS FOR WRITING AND DISCUSSION
1. Ordering costs are the costs of placing and receiving an order. Examples include clerical costs, documents, and unloading.

I missed 2 questions. 90%.
1.
In activity-based costing, supplier costs
1.must 2.are
be narrower, including only the purchase price.
allocated to products arbitrarily. costs of quality, reliability and timeliness and are assigned to products on a causal b

I got 36 out of 40 which is 90%.
1. A manufacturing cell has the theoretical capability of producing 40,000 microchips per quarter. The conversion cost per quarter is $25,000. There are 4,000 production hours available within the cell per quarter. The the

Jeremy Doncouse ACCT 360 Chapter 5 Excercises 5-1 & 5-11 Chapter 6 Excercises 6-6 & 6-12 12/19/2008 Ex 5-1 A) Bicycle production - manufacturing because each model of bicycle will be homogenous, the product can be separated from the service of selling the

Jeremy Doncouse Ex 11-1 1) The total product purchased by Jason is 1) the cost of the computer, 2) the cost of the repairs and maintenance, 3) the sales ability of the sales representatives, and 4) the promise of superior service from an outside source. 2

Cost Management
ACCOUNTING AND CONTROL
HANSEN & MOWEN
9-1
Standard Costing: A Functional-Based Control Approach Control
9
9-2
Developing Unit Input Standards
Price standards specify how much should be paid for the quantity of the input to be used. Quantit

Cost Management
ACCOUNTING AND CONTROL
HANSEN & MOWEN
14-1
14
Quality Cost Management Quality
14-2
Costs of Quality
1
A quality product or service is one that meets or exceeds customer expectations. conformance Quality of is a measure of how a product mee

CHAPTER 19 PRICING AND PROFITABILITY ANALYSIS
QUESTIONS FOR WRITING AND DISCUSSION
1. Perfectly competitive markets are characterized by the following: many buyers and sellers- no one of which is large enough to influence the market; a homogeneous product

CHAPTER 18 ACTIVITY RESOURCE USAGE MODEL AND TACTICAL DECISION MAKING
QUESTIONS FOR WRITING AND DISCUSSION
1. Tactical decision making is choosing among alternatives with an immediate or limited end in mind. 2. Tactical decisions should support the overal

CHAPTER 17 COST-VOLUME-PROFIT ANALYSIS
QUESTIONS FOR WRITING AND DISCUSSION
1. CVP analysis allows managers to focus on prices, volume, costs, profits, and sales mix. Many different what-if questions can be asked to assess the effect on profits of changes

CHAPTER 2 BASIC COST MANAGEMENT CONCEPTS
QUESTIONS FOR WRITING AND DISCUSSION
1. A cost object is any item for which costs are measured and assigned, including such things as products, plants, projects, departments, customers, and activities. 2. An activi

CHAPTER 3 COST BEHAVIOR
QUESTIONS FOR WRITING AND DISCUSSION
1. Knowledge of cost behavior allows a manager to assess changes in costs that result from changes in activity. This allows a manager to assess the effects of choices that change activity. For e

CHAPTER 4 ACTIVITY-BASED COSTING
QUESTIONS FOR WRITING AND DISCUSSION
1. A predetermined overhead rate is simply an estimate of the overhead used per unit of driver. It is calculated using budgeted overhead and budgeted levels of the associated driver. Pr

CHAPTER 5 PRODUCT AND SERVICE COSTING: JOB-ORDER SYSTEM
QUESTIONS FOR WRITING AND DISCUSSION
1. Cost measurement is the process of determining the dollar amounts of direct materials, direct labor, and overhead that should be assigned to production. Cost a

CHAPTER 6 PRODUCT AND SERVICE COSTING: A PROCESS SYSTEMS APPROACH
QUESTIONS FOR WRITING AND DISCUSSION
1. A process is a series of activities (operations) that are linked to perform a certain objective. For example, the bottling process of a pain medicati

CHAPTER 8 BUDGETING FOR PLANNING AND CONTROL
QUESTIONS FOR WRITING AND DISCUSSION
1. Budgets are the quantitative expressions of plans. Budgets are used to translate the goals and strategies of an organization into operational terms. 2. Control is the pro

CHAPTER 9 STANDARD COSTING: A FUNCTIONAL-BASED CONTROL APPROACH
QUESTIONS FOR WRITING AND DISCUSSION
1. Standard costs are essentially budgeted amounts on a per-unit basis. Unit standards serve as inputs in building budgets. 2. The quantity decision is de

CHAPTER 11 STRATEGIC COST MANAGEMENT
QUESTIONS FOR WRITING AND DISCUSSION
1. A competitive advantage is providing better customer value for the same or lower cost or equivalent value for lower cost. The cost management system must provide information that

CHAPTER 12 ACTIVITY-BASED MANAGEMENT
QUESTIONS FOR WRITING AND DISCUSSION
1. The two dimensions are the cost dimension and the process dimension. The cost dimension is concerned with accurate assignment of costs to cost objects, such as products and custo

CHAPTER 13 THE BALANCED SCORECARD: STRATEGIC-BASED CONTROL
QUESTIONS FOR WRITING AND DISCUSSION
1. A strategic-based responsibility accounting system converts an organization's mission and strategy into operational objectives and measures for four perspec

CHAPTER 14 QUALITY COST MANAGEMENT
QUESTIONS FOR WRITING AND DISCUSSION
1. All quality costs are incurred because poor quality may or does exist. 2. Prevention costs are incurred to prevent defects in products; appraisal costs are costs incurred to determ